Microf, LLC, an Albany, GA-based consumer finance company that provides rent-to-own (RTO) solutions for the residential HVAC industry, received a $12.3m equity investment from Rotunda Capital Partners, LLC.
The investment establishes Rotunda as the largest investor with two newly added members to the board. The firm has also sourced industry veteran Craig Rosato to join the company as the chief financial officer.
The company intends to use the funds to attract new distributors and dealers as it rolls out the RTO product nationwide.
Established by Mitch Masters and Jay Kimbro in 2010, Microf provides an RTO product that allows consumers to access to monthly payment option for the replacement of residential heating and cooling systems through a strategic network of actively enrolled dealers.